Friday, December 19, 2014
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

Solano home prices stable, number of sales up slightly

17 house 1

A house at 366 Wyoming Street in Fairfield, Wednesday. The average price of homes in Fairfield sold last month was $300,000. (Aaron Rosenblatt/Daily Republic)

By
From page A1 | July 17, 2014 |

FAIRFIELD — Now this is a plateau – and it may be healthy for the local housing market.

San Diego-based real estate service DataQuick reported Wednesday that the median price for homes sold in Solano County in June was $300,000. It was the fourth consecutive month that the median price was either $300,000 or $300,700 – a series of months unparalleled in recent history for price stability.

“We’re really seeing housing prices stabilize, which is a healthy thing for the marketplace, considering what we’ve been through” said Denise Kirchubel, a Realtor with ReMax/Gold in Fairfield. “You can’t have a significant upward trend forever. That’s what causes bubbles.”

The median price increased from $214,250 to $300,000 over the 13 months leading up to the current plateau – occasionally jumping as much as $15,000 in a month.

Not now.

Kirchubel said that stable prices helps increase the number of homes on the market, since homeowners and buyers both have an idea of what homes are worth.

While the same as the past few months, June’s median sales price was a 14.5 percent jump over a year ago – and it was the 26th consecutive month of year-over-year increases. There still aren’t many homes for sale, with 565 sold in June – a 3.9 percent jump over a year ago, but second-lowest for that month since 2008.

Across the nine-county Bay Area, the median price for a home was $618,000, an 11.4 percent increase over last June. The number of homes sold was up 0.2 percent over a year ago – the first year-over-year increase in the number of homes sold in the Bay Area as a whole since September 2013.

Darla Stever, a veteran Fairfield Realtor, said she thinks local prices are increasing – but that lower-end homes are selling quickly, while more expensive ones aren’t.

“From what I’ve seen, prices are going up but sellers are – if this is the right word – getting greedy,” she said. “They see the house next door sell for $380,000, so they say ‘mine is worth $400,000.’ They’re overpricing, so their homes stay on the market longer.”

Stever said that homes selling for less than $300,000 – the median – move quickly.

“They’re gone in less than a week,” she said. “The reason (the median price is flat) is that the more expensive homes are priced too high and stay on the market longer.”

The last time there was a four-month stretch anywhere near this stable for median prices was October 2012 through January 2013, when prices varied from $216,000 to $221,500.

Solano has the lowest home prices in the Bay Area by a big margin. The next lowest median price in June was $450,000 in Sonoma County. Napa County’s median sales price was $485,000.

Reach Brad Stanhope at 427-6958 or bstanhope@dailyrepublic.net. Follow him on Twitter at www.twitter.com/bradstanhope.

Brad Stanhope

Brad Stanhope

Brad Stanhope is the Daily Republic's news editor. He began his career at the DR in the last millennium. He spent 17 years as a sports editor and three years as the associate editor before spending three years away from the newspaper (though continuing as a columnist). He returned in December 2010 as news editor. Brad lives in Suisun City with his wife, Mrs. Brad, and two sons. He enjoys cheese.
LEAVE A COMMENT

Discussion | No comments

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Read our full policy

  • Recent Articles

  • Enter your email address to subscribe and receive notifications of new posts by email.

  • .

    Solano News

     
    Groundbreakings, ribbon-cuttings play role in civic life

    By Barry Eberling | From Page: A1 | Gallery

     
    Safe streets task force work nets 3

    By Ryan McCarthy | From Page: A3

     
    Santas have busy week at schools

    By Susan Hiland | From Page: A3

    Solano College approves officers, meeting schedule

    By Susan Winlow | From Page: A4

     
    Longtime Suisun harbor master to retire

    By Ian Thompson | From Page: A4

    Mosquito abatement district board has opening

    By Ian Thompson | From Page: A4

     
     
     
    Police arrest 2nd suspect in Fairfield credit union robbery

    By Ryan McCarthy | From Page: A12 | Gallery

    Fairfield police log: Dec. 17, 2014

    By Susan Hiland | From Page: A12

     
    Suisun City police log: Dec. 17, 2014

    By Susan Hiland | From Page: A12

    .

    US / World

    Next steps on Cuba: Normalizing could take awhile

    By The Associated Press | From Page: A1

     
    Sony hacking fallout puts all companies on alert

    By The Associated Press | From Page: A1

    Sony film took aim at North Korea’s biggest taboo

    By The Associated Press | From Page: A1

     
    Timeline of the Sony Pictures Entertainment hack

    By The Associated Press | From Page: A1

    Digital dilemma: How will US respond to Sony hack?

    By The Associated Press | From Page: A1

     
    Rubio, other Congressional Cubans step up Obama criticism

    By The Associated Press | From Page: A1

    Spy’s parents search for son after Cuba-US deal

    By The Associated Press | From Page: A1

     
    Hope and some fear in Cuba amid thaw with US

    By The Associated Press | From Page: A1

    California’s top utility regulator defends record

    By The Associated Press | From Page: A5

     
    ‘Pretty horrible’ scene; car slams into crowd

    By The Associated Press | From Page: A5

    San Francisco Bay Bridge fasteners not in danger of failing

    By The Associated Press | From Page: A5

     
    Police: Drunk man shot while entering wrong house

    By The Associated Press | From Page: A5

    CHP, Oakland in tiff over plainclothes officers at protests

    By The Associated Press | From Page: A5

     
    Local emergencies in Northern California counties after rain

    By The Associated Press | From Page: A5

    Tsarnaev appears in court for 1st time since 2013

    By The Associated Press | From Page: A6

     
    President signs legislation ending Nazi benefit checks

    By The Associated Press | From Page: A7

    2 states challenge Colorado marijuana legalization

    By The Associated Press | From Page: A8

     
    ‘Prison Houdini’ set to make his 1st legal escape

    By The Associated Press | From Page: A8

    Top Islamic militants killed; more US troops going to Iraq

    By The Associated Press | From Page: A8

     
    Feds sue NYC over Rikers Island jail violence

    By The Associated Press | From Page: A8

    Russian sailors leaving France without warship

    By The Associated Press | From Page: A9

     
    Putin: West wants to defang, declaw Russian bear

    By The Associated Press | From Page: A10

    Suspected Islamic extremists kidnap 185 in Nigeria

    By The Associated Press | From Page: A13

     
    European court rules obesity can be a disability

    By The Associated Press | From Page: A13

    .

    Living

    Community Calendar: Dec. 19, 2014

    By Susan Hiland | From Page: A2

     
    .

    Entertainment

    Sweet ‘Night at the Museum’ bids farewell to Robin Williams

    By The Associated Press | From Page: B2

     
    Review: ‘The Hobbit’ wraps with a Middle Earth melee

    By Jake Coyle | From Page: B2 | Gallery

    Eric Idle brings ‘Not the Messiah’ to Carnegie Hall

    By The Associated Press | From Page: B3

     
    .

    Sports

    Warriors beat Thunder 114-109 after Durant injury

    By The Associated Press | From Page: B7

     
    A’s acquire lefty De La Rosa from Arizona for cash

    By The Associated Press | From Page: B7

    Raiders defense depleted by injuries

    By The Associated Press | From Page: B7

     
    49ers’ Harbaugh mum on reported offer from Michigan

    By The Associated Press | From Page: B7

    49ers’ Aldon Smith hopes to build off tough year

    By The Associated Press | From Page: B7

     
    A’s trade All-Star catcher Derek Norris to Padres

    By The Associated Press | From Page: B7

     
    Celtics trade Rondo to Mavericks

    By The Associated Press | From Page: B8

    Rodriguez boys open Les Curry Tournament with victory

    By Daily Republic staff | From Page: B8

     
    39 bowl games and a reason to watch every one

    By The Associated Press | From Page: B8

    Column: Thaw in US-Cuba relations warms up MLB

    By Jim Litke | From Page: B8

     
    Rivera: Newton ‘probably’ will start vs. Browns

    By The Associated Press | From Page: B8

    Bears bench QB Jay Cutler for Clausen

    By The Associated Press | From Page: B8

     
    ‘Hands Up’ players to attend Ferguson Christmas party

    By The Associated Press | From Page: B8

    Signups for Friday, Dec. 19, 2014

    By Paul Farmer | From Page: B9

     
    Sports on TV/Local sports for Friday, Dec. 19, 2014

    By Paul Farmer | From Page: B11

    This date in sports history for Friday, Dec. 19, 2014

    By The Associated Press | From Page: B11

     
    .

    Business

    Roomiest Subaru Legacy debuts for 2015

    By Ann M. Job | From Page: C1

     
    Dow industrials have their best day in three years

    By The Associated Press | From Page: B6

    Ford expands drivers air bag recall nationwide

    By The Associated Press | From Page: B6

     
    Constantly changing online prices stump shoppers

    By The Associated Press | From Page: B6

    .

    Obituaries

    Travis Curt Price

    By Susan Hiland | From Page: A4

     
    Ernest “Ernie” Moretti

    By Nancy Green | From Page: A4

    Jennie Ponce Reyes

    By Nancy Green | From Page: A4

     
    Patricia “Pat” Anne Stringfield-Pierre

    By Nancy Green | From Page: A4

    .

    Comics